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Telephone conference May 16th 2012

Telephone conference May 16th 2012. CEO comment to the Q1 Report. ”The first Quarter of 2012 was characterised by a strong recovery after the difficult fourth quarter of 2011. Improved margins and lower fixed costs contributed to a significant improvement in performance .

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Telephone conference May 16th 2012

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  1. Telephone conference May 16th 2012

  2. CEO commentto the Q1 Report • ”The firstQuarterof 2012 wascharacterised by a strong recoveryafter the difficultfourthquarterof 2011. • Improvedmargins and lowerfixedcostscontributedto a significantimprovement in performance. • Wearenowintensifyingoureffortstoraiseproductivity in order toensure long-term competitiveness and profitability.”

  3. Continued restructuring and consolidation in the envelope industry • West European envelope volumes decreasing year on year, more so in Spain, France and the UK • Several restructuring measures within the industry • Some smaller players in Italy and Germany in bankruptcy, consolidation of the industry continues • Continued growth in packaging for E-trading

  4. Recovery driven by margin and lowerfixedcostsSEK million

  5. Significant EBIT improvement Vs previousquarterSEK million 31 31 26 16 15 13 13 13 11 8 * -9* *** -17*** -106** -106** Q1- Q2- Q3- Q4- Q1- Q2- Q3- Q4- Q1- Q2- Q3- Q4- Q1- 09 09 09 09 10 10 10 10 11 11 11 11 12 * Including transaction costs of MSEK 15 for the merger with Hamelin ** Including costs related to the merger with Hamelin’s envelope division and other non-recurring items for a total of -136 MSEK*** Including restructuring costs of 23 MSEK

  6. Rolling 12 month EBIT improvingSEK million * *** *** ** ** ** ** * including transaction costs of MSEK 15 for the merger with Hamelin ** Including costs related to the merger with Hamelin’s envelope division and other non-recurring items for a total of -142 MSEK *** Including restructuring costs of 23,9 MSEK

  7. Normal cash flow given Q1 seasonalitySEK million

  8. Net debt on itsway down after the merger SEK million 1062 947 103 103

  9. Significantreduction in employeessince the merger NumberofFTEs

  10. New ProPac business unit to accelerate organic growth • New separate business unit; Bong Packaging Solutions • Good order intake for Retail Gift Bags • Big interest for new e-business machinery concept

  11. New Nordic Business Unit Manager recruited • Mr Christer Wahlquist has been recruited for the position of Business Unit Manager Nordic • Long service in Nolato as Medical Business Area Manager • Mr Wahlquist will be part of Bong’s Group Management • Joins sometime during the autumn of 2012

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